Valuation date meaning

This flowchart explains the actions required from the issue of a pension sharing order, following the court’s final order/decree of divorce, dissolution or nullity, through to the execution of that pension sharing order in due course...

Background A verbal lending arrangement from June 2018 lies at the centre of the dispute. Southgate maintained he advanced 144 ETH—then worth roughly £50,000—to Graham, with a 10% uplift to be repaid. Graham argued the loan was for £50,000 in sterling, with ETH used merely as the vehicle for the transaction. When Graham did not repay the full amount, Southgate sought specific performance, requiring Graham to obtain and return the requisite ETH, or alternatively to pay damages equal to its value... County Court judgment and appeal The County Court preferred Southgate’s interpretation, concluding the agreement obliged repayment of 144 ETH plus 10% (158.4 ETH). As Graham had already paid the fiat equivalent of 42.7 ETH, 115.7 ETH remained outstanding. However, the court declined to order specific performance, citing the potential hardship of acquiring the remaining ETH and noting it ‘would do no more than set up [Graham] to fail’, since by judgment the fiat value of 115.7 ETH had reportedly risen to about £350,000. Instead, the court...

In this issue: The Pensions Regulator Pensions dashboards Collective defined contribution schemes Public sector pensions Daily and weekly news alerts Dates for your diary Trackers The Pensions Regulator TPR publishes final Fast Track parameters The Pensions Regulator (TPR) has issued a standalone, finalised version of the Fast Track tests and conditions. Previously included as Appendix 1 to TPR’s response to its Fast Track and regulatory approach consultation, this document details the parameters that a defined benefit (DB) scheme must meet when submitting an actuarial valuation with an effective date on or after 22 September 2024 under the Fast Track route. In essence, the framework sets expectations across funding and investment stress, technical provisions, investment risk, and the recovery plan. In completing the parameters, TPR made a number of minor tweaks to better clarify its intentions. Fast Track is one of two newly introduced pathways—alongside the Bespoke route—available to trustees when filing a DB scheme valuation dated...

In this issue Building safety Adjudication Litigation Arbitration Consultants on construction projects Planning in construction Tax for construction lawyers Energy in construction Infrastructure projects Construction industry news Daily and weekly news alerts New and updated content Construction trackers Building safety The Scottish Government has confirmed that the Scottish Parliament has passed the Building Safety Levy (Scotland) Bill, bringing in a levy on selected new residential developments to support cladding remediation. The levy will cover defined categories of new residential projects and, after its original start date was deferred, is now anticipated to come into force from April 2028. See: LNB News 18/03/2026 32. The Welsh Government has announced that the Senedd has approved the Building Safety (Wales) Bill. The legislation sets up a new building safety regime for residents of multi-occupied buildings across Wales, irrespective of height or tenure...

Term Meaning Accounting reference date On incorporation, a company is typically assigned an accounting reference date, being the final day of the month that contains the anniversary of its incorporation. Directors can alter this by submitting the relevant form to the Registrar of Companies. It denotes the end of the annual accounting period and is also called the balance sheet date. Accounts payable Sums a business or individual owes to others for goods or services already received. Accounts receivable Sums due to a business or individual from others for goods or services supplied. Accrual In company accounts, recognition of income earned or costs incurred during a reporting period, even though the cash has not yet been received or paid. Adjusted earnings Where reported earnings are affected, positively or negatively, by exceptional one-off events in the year, directors may present adjusted earnings to clarify performance. These are earnings with exceptional items excluded, which they believe better indicate the underlying results...

What is an assessment period? When a qualifying insolvency event affects the sponsoring employer of an eligible scheme, the scheme moves into a Pension Protection Fund (PPF) assessment period as a result of that event. This arises on the occurrence of that event. The day on which that period starts is known as the ‘assessment date’ for the scheme. Since 3 January 2012, the assessment period is no longer required to last for at least 12 months. Throughout the assessment period, the PPF considers whether the scheme satisfies the requirements for entry into the PPF. In particular, the PPF will appoint an actuary to carry out a valuation of the scheme as at the assessment date, in order to determine whether the scheme’s assets are less than the protected liabilities—broadly, the benefits the PPF would pay to members if the scheme were to enter the PPF...

Context The compulsory purchase regime is founded on the premise that a proprietor of land, or of rights, that are compulsorily taken or disturbed is entitled to be compensated. Consequently, working out the compensation is a central part of the compulsory purchase process; see: Promoting a compulsory purchase order, covering preparation of the order, its supporting documents and the making of the order. This Practice Note sets out the core principles for assessing compensation arising from the compulsory acquisition of an interest in land. Compulsory acquisition must rest on specific statutory authority, whether for taking the land itself or rights in or over it. The Royal Prerogative is reserved to the Crown, and even the Crown typically prefers to expropriate or requisition land under statutory powers. Most acquisitions proceed under Public General Acts, for example the Highways Act 1980 (HiA 1980). The making and confirmation of a compulsory purchase order (CPO) is usually regulated by the Acquisition of Land Act 1981 (ALA 1981). See Practice Note: Sources and limits...

Variations can also push back the completion date, and may give the Claimant a right to extra time and to prolongation costs. These elements of a variation claim are commonly pursued separately, as an extension of time claim and a prolongation costs claim. By way of illustration, the principal JCT forms provide distinct procedures: one for pricing the changed work, and another for evaluating loss and expense arising from the variation’s effect on the progress of the works (see Practice Note: JCT contracts—variations — Valuing variations under JCT contracts). Accordingly, Claimants should take care not to ‘double dip’ across the separate elements of the claims. No. Description of Variation Claimant’s case Defendant’s response Judge/Tribunal comments The Claimant intended to adopt slab foundations for block A, as depicted on the Claimant’s drawing reference XX dated XX. By email dated XX, the Defendant directed the use of piled foundations for block A...

In the Family Court sitting at [ Court name ] Case no: [ Case number ] Proceedings under: The Matrimonial Causes Act 1973 The Civil Partnership Act 2004 The Child Support Act 1991 Schedule 1 to the Children Act 1989 The Inheritance (Provision for Family and Dependants) Act 1975 The Matrimonial and Family Proceedings Act 1984 and Schedule 7 to the Civil Partnership Act 2004 The Trusts of Land and Appointment of Trustees Act 1996 The Married Women’s Property Act 1882 and ss 67, 68 and 74 of the Civil Partnership Act 2004 OR [ (DELETE AS APPROPRIATE) ] The [ Marriage OR Civil Partnership OR Relationship OR Family ] of [ applicant name ] and [ respondent name ] Heard [ name the advocate(s) who appeared ]; considered documents filed by the parties [ [ (IN THE CASE OF AN ORDER MADE WITHOUT NOTICE) ] read the statements and heard the witnesses...

[ ON THE HEADED NOTEPAPER OF CLAIMANT’S SOLICITORS ] FAO [ [ APPROPRIATE DIRECTOR ] ] [ NAME OF DEFENDANT BROKER ] [ ADDRESS LINE 1 ] [ ADDRESS LINE 2 ] [ POSTCODE ] [ DATE ] Dear [ insert organisation name ] [ PROSPECTIVE CLAIMANT’S NAME ] AND [ PROSPECTIVE DEFENDANT’S NAME ] Preliminary notice of claim We act for and represent our client [ insert client’s name ]...

Broadly, in this context, an asset is assessed only for appropriation purposes by reference to that specific date (rather than the date-of-death valuation that applies for inheritance tax (IHT) purposes)...

Insolvency Rules 2016 (IR 2016), SI 2016/1024, Part 14 Part 14 of the Insolvency Rules 2016 (SI 2016/1024), which sets out how creditors’ claims are dealt with, also operates in a members’ voluntary liquidation (MVL) by reason of r 14.1(1). That rule confirms that this Part applies to administration, winding up and bankruptcy proceedings, without any restriction confining its operation to insolvent liquidations. What amounts to a provable debt in a winding up (and equally in administration and bankruptcy) is defined by r 14.2(1). Save as otherwise provided in that rule, every creditor’s claim is provable as a debt against the company or the bankrupt, whether the liability is present or future, certain or contingent, ascertained or recoverable only in damages. For further guidance, see Practice Note: Future debts, contingent debts, secured debts...